Multiple Choice
If the price elasticity of demand for canned soup is estimated at -1.62.What happens to sales revenue if the price of canned soup rises?
A) It falls by 162 percent.
B) It rises by 1.62 percent.
C) It falls.
D) It rises.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q121: Total revenue is equal to<br>A)the amount of
Q122: Most food products have low income and
Q123: Seth is a competitive body builder.He says
Q124: The estimated price elasticities of demand for
Q125: Suppose Pump-U-Up lowers the price of its
Q127: In September 2006, the Food and Drug
Q128: In general, a "big ticket item" such
Q129: Which of the following goods would have
Q130: Between 1950 and 2017, the number of
Q131: Between 1950 and 2017 the productivity of